Flintfox provides a settlement module for businesses who require the ability to accurately and efficiently reconcile trade and revenue management related finances. Businesses can be confident with Flintfox, that financial data is up-to-date, ensuring the successful reconciliation of claims, deductions, fees and rebates. Many industries require after-the-fact settlement of various allowances - such as bill-backs, scan-backs, lump sums, rebates, commissions, and fees. This requires detailed financial tracking and automated adjustment processes, as well as efficient methods to receive, approve/reject, and settle payment requests or claims.
Many ERP and accounting systems have no special accrual processing routines for promotions, rebates, fees or royalties. Without a systematic and automated method for the calculation and generation of accruals, calculating an organisation’s true liability requires significant manual processing and does not allow for accurate and real time expense and revenue recognition.
For promotion and rebate activities, where settlement is “after-the-fact”, Flintfox enables highly flexible and automated accrual and settlement facilities. Flintfox best of breed settlement tools increase operational efficiency and reduce revenue leakage by ensuring accurate reconciliation of all money owed or payable.